Fast Retailing, owner of Japan’s popular clothing chain Uniqlo, booked a record annual profit and forecast even stronger results in the current year, helped by growth in Asia and a recovery at its US stores.
Roger Federer said on Tuesday his decision to end a 20-year association with Nike and embark on a new chapter with Uniqlo was influenced by Uniqlo’s commitment to stay with him long after his playing days are over.
Fast Retailing’s Uniqlo chain has had a strong August in its domestic market with like-for-like sales up by a healthy 8.8% with online included. But they were also up by a strong 7.4% in physical stores only.
Fast Retailing is rolling out its Uniqlo chain further in key established markets as well as developing countries, and has just opened in retail giant H&M’s home market of Sweden, while also planning a Vietnam debut.
Fast Retailing has taken a minority interest in Lemaire, the brand established by Christophe Lemaire and Sarah-Linh Tran, and is deepening the Uniqlo link with the man who is artistic director at its Paris R&D Centre.